HomeMy WebLinkAboutRDA Reso 2004-1855
RESOLUTION NO. 1855
RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY
OF CHULA VISTA APPROVING APPROPRIATING FUNDS FOR
THE GATEWAY CHULA VISTA SECOND INSTALLMENT
PAYMENT
WHEREAS, the Redevelopment Agency and the Developer (Gateway Chula Vista, LLC) are
parties to that certain Disposition and Development Agreement dated June 6, 2000 ("DDA"), as
amended by that certain First Amendment to Disposition and Development Agreement dated
September 25, 2002 ("First Amendment"), as further amended by that certain Second Amendment to
Disposition and Development Agreement dated December 17, 2001, ("Second Amendment"); as
administratively amended by that certain Third Amendment to the Disposition and Development
Agreement dated April 16, 2002; as further amended by that certain Fourth Amendment to the
Disposition and Development Agreement dated April 15, 2003; and as amended by that certain Fifth
Amendment dated November 18, 2003; collectively the original DDA, the First Amendment, the
Second Amendment, the Third Amendment, the Fourth Amendment and the Fifth Amendment are
herein referred to as the "DDA"); and
WHEREAS, the DDA relates to redevelopment, development, and operation of a phased
First Class, First Quality 344,000 square foot mixed-use commercial/office project with restaurant
and retail components and common areas, including a five-tier 1300 space parking structure that
spans all Phases of the Project; specifically the retail component will include up to 81,000 square
feet with a restaurant, deli, coffee shop, financial institution, and other retail uses, Phase I will
include 102,237 square feet in a five story office tower at the easterly portion of the Site, Phase II will
include 125,000 square feet in a six story office tower, and Phase III will include 117,000 square feet
in a six story office tower at the westerly portion ("Project"); and
WHEREAS, the Project's Second Phase is getting underway and building permits have been
applied for, which will necessitate the release of the Second Installment Payment of Agency
participation upon approval of the Phase II building permits and associated conditions as set forth in
the DDA;
NOW, THEREFORE, BE IT RESOLVED the Redevelopment Agency of the City of Chula
Vista does hereby approve appropriating funds in the amount of $1,823,500 from the existing
balance in the Merged Project Area Fund using the proceeds from the Agency's 2000 Tax Allocation
Bond Issue for repayment to the BayfrontIT own Centre I Project Area and funding the Gateway
Chula Vista Project Second Installment Payment.
PRESENTED BY
APPROVED AS TO FORM BY
r
Madigan .
r of Community Development
V-.- ~
Ann Moore
Agency Attorney
Page 2
Resolution No. 1855
PASSED, APPROVED and ADOPTED BY THE REDEVELOPMENT AGENCY OF THE CITY OF
CHULA VISTA, CALIFORNIA this 27th day of January, 2004 by the following vote:
AYES:
Members Davis, McCann, Rindone, Salas, and Chair/Mayor Padilla
NOES:
None
ABSENT:
None
ABSTENTIONS:
~62d/_
ATTEST:
Chairman/Mayor
øU
STATE OF CALIFORNIA)
COUNTY OF SAN DIEGO) ss:
CITY OF CHULA VISTA)
I, Laurie Madigan, Executive Secretary to the Redevelopment Agency of the City of Chula Vista,
California DO HEREBY CERTIFY that the foregoing is a full, true and correct copy of Resolution No.
1855 and that the same has not been amended or repealed
Dated: January 27,2004
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